- Tlou Energy (TOU) secures a 10 megawatts power purchase agreement (PPA) with Botswana Power Corporation to replace current carbon-intensive power with hydrogen
- The company plans to create a hydrogen production unit prototype in Brisbane and transport it to the Lesedi Power Project in 2022
- The multifaceted project is part of an overall goal of net zero carbon emissions and carbon credit system
- TOU shares spiked 17.7 per cent and closed the day trading at 7.3 cents a share
Tlou Energy (TOU) secured a 10 megawatts power purchase agreement (PPA) with Botswana Power Corporation to replace current carbon-intensive power with hydrogen.
TOU and hydrogen specialist Synergen Met have been working to combine pre-existing natural gas reserves with solar energy to create green hydrogen.
The company has plans to create a hydrogen production unit prototype in Brisbane and transport it to the Lesedi Power Project in 2022.
Construction of transmission lines connecting Lesedi to existing power grids is currently underway and will be completed in 2023.
The multifaceted project is part of an overall goal of net zero carbon emissions and carbon credit system.
The completed project has aimed to deliver plasma technology produced hydrogen energy for the first time in Sub-Saharan region.
TOU managing director Tony Gilby said the company is well positioned to take advantage of the booming renewable market conditions.
“With continued encouraging gas flows from Lesedi and the development of additional ways to monetise our gas, we are about to enter a very exciting time for our company,” he said.
With the potential for Synergen Met to grow alongside Tlou, we see the development of a mutually rewarding and highly beneficial relationship.”
TOU shares spiked 17.7 per cent and closed the day trading at 7.3 cents a share.